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missfemme
New Member

Form 8332 is confusing me as far as reclaiming the dependnet?

I am the custodial parent. I will be allowing his father to claim him this year only. I was told i need to file form 8332. The form states it can be for only one year. The info i found for reclaiming the dependent is confusing. It states: "Reclaiming the exemption isn't effective until the tax year after the calendar year in which you provide your child's noncustodial parent with Form 8332. In other words, if you provide the form in 2017, the earliest you can reclaim the exemption is on your 2018 tax return which you will file in 2019." Does this mean he will claim him for 2 years in a row and next year i wont be able to claim him? Its saying if i give him the form to claim him this year, the earliest i can reclaim him is in 2019 on my 2018 returns. Why is there a gap year there? Im so confused. Isnt filling form 8332 for one year sufficient and would go back to allowing me to claim him after the initial allowed year is up?
1 Best answer

Accepted Solutions
KrisD
Intuit Alumni

Form 8332 is confusing me as far as reclaiming the dependnet?

YES

You can release the child's exemption for tax year 2016 only. 

If you are the custodial parent, you may release the child's exemption to the non-custodial parent.

This allows the non-custodial parent to claim the child's exemption, but only the custodial parent can claim Head of Household filing status, as well as possible eligibility for the Earned Income Credit and the Child and Dependent Care Credit.

Be sure you give the exemption for tax year 2016 only.

If you release the exemption for one year only, complete Part I ONLY (not Part II) and you will not be restricted to the year grace period for reclaiming the credit. This "reclaiming" period is only enforceable when the exemption had been given for "All Future Years".

If you agree to release it again in future years, you will again need to fill out a Form 8332, but you will not be restricted to having to "revoke" your option and needing to give a year's notice to the other parent.

"Part I. Complete Part I to release a claim to exemption for your child for the current tax year.

Part II. Complete Part II to release a claim to exemption for your child for one or more future years. Write the specific future year(s) or “all future years” in the space provided in Part II."

https://www.irs.gov/pub/irs-pdf/f8332.pdf





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2 Replies
KrisD
Intuit Alumni

Form 8332 is confusing me as far as reclaiming the dependnet?

YES

You can release the child's exemption for tax year 2016 only. 

If you are the custodial parent, you may release the child's exemption to the non-custodial parent.

This allows the non-custodial parent to claim the child's exemption, but only the custodial parent can claim Head of Household filing status, as well as possible eligibility for the Earned Income Credit and the Child and Dependent Care Credit.

Be sure you give the exemption for tax year 2016 only.

If you release the exemption for one year only, complete Part I ONLY (not Part II) and you will not be restricted to the year grace period for reclaiming the credit. This "reclaiming" period is only enforceable when the exemption had been given for "All Future Years".

If you agree to release it again in future years, you will again need to fill out a Form 8332, but you will not be restricted to having to "revoke" your option and needing to give a year's notice to the other parent.

"Part I. Complete Part I to release a claim to exemption for your child for the current tax year.

Part II. Complete Part II to release a claim to exemption for your child for one or more future years. Write the specific future year(s) or “all future years” in the space provided in Part II."

https://www.irs.gov/pub/irs-pdf/f8332.pdf





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missfemme
New Member

Form 8332 is confusing me as far as reclaiming the dependnet?

Thank you so much! I was under the impression i only had to fill it out for the one year then it would be void after that but that quote on regaining the deduction confused me! Very helpful thanks again!
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